RM acquires Sunshine Coast light industrial site
RM Developments has bought a light industrial site, at Cooroy, on the Sunshine Coast – while a Melbourne developer has sold down a Geelong project.
In Queensland, the 2.016 hectare parcel, 18 Taylor Court, is earmarked for a 12,000 square metre small unit development.
The land was last for public sale in mid-2022 asking $8.4 million.
Rented to a shipping container hire business, it earns $280,000 annual rent.
“Development and staged sales are forecast through to mid-2029 with the project now moving confidently into its approval stage,” a statement from the Mooloolaba builder said.
In December, RM Developments’ parent, RM Capital, formed in 2017 by Remi Rafter and Josh Myers, outlaid nearly $20m for two Sunshine Coast offices.
Wilmac sells down Corio project
Meanwhile, Wilmac has sold down its second Corio industrial project, completed last year spreading 22,577 sqm (continues below).
The 12 relatively large warehouses – between 1000-2400 sqm – with 195 sqm first floor offices at 128-146 O’Briens Road, collected a total of just over $60m.
The bulk sold off-the plan in late 2023.
One buyer bought two.
Investments have been rented up to c$180 per sqm, per annum, Darcy Jarman’s Tim Darcy and Andrew Prowse who represented Wilmac with Knight Frank’s Steve Jones, Nathan Edgar and Chris Bolsin, said.
Direct Freight, Harvey Norman and Ventia are amongst the occupiers.
Earlier this week we reported Frasers Property Industrial and Norhart sold down small-unit industrial projects, 15 kilometres from each other, south of Brisbane.
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